Hoberman, who launched the company with Martha Lane Fox, will now be responsible for advising McCaig as well as developing all of Lastminute.com's marketing and technology programmes, as it seeks to increase its market share.
McCaig, who was made chief operating officer at Lastminute.com in 2003, had overseen its European operations, specifically with the integration of Travelocity, which acquired Lastminute.com last year. Prior to working for Lastminute.com, he was vice-president of 3G operations at Nokia.
Travelocity, which is owned by Sabre Holdings, bought Lastminute in a 拢577m deal in May 2005.
Hoberman said: "[McCaig] was always the natural choice to succeed me ever since we hired him as chief operating officer three years ago.
"I believe my role as chairman will enable me to take a better perspective of the business and its future strategic development as a whole and support Ian as he takes the business forwards."
McCaig added: "We will continue to develop and innovate to ensure that our customers get the very best value out of their free time."
Lastminute, which is part of Travelocity, made former IPC Ignite! marketing director Niall McKinney its most senior marketer for its European division in February.
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